1.The repeal of paragraph 1 of Schedule 7 to the Finance Act 1997 has effect in relation to distributions made on or after 6th April 1999.
2.The repeal of paragraph 7 of that Schedule has effect in relation to payments which are representative of distributions made on or after 6th April 1999.
(13) Interest on gilt-edged securities, etc.
| Chapter | Short title | Extent of repeal |
|---|---|---|
| 1988 c. 1. | The Income and Corporation Taxes Act 1988. | In section 50(1), paragraphs (a), (c) and (d). |
| Section 51A. | ||
| In section 118G— | ||
| (a) in subsection (3), paragraphs (b) and (d) to (f); | ||
| (b) subsections (8) and (10); and | ||
| (c) in subsection (9), the words “or (8)”, “or subject to deduction of tax at a reduced rate” and “subsection (10) below and to”. | ||
| In section 118H— | ||
| (a) in subsection (2), the words from “or (8), or” to the words “case may be” in the first place where they occur and the words “or (8)” in the second place where they occur; and | ||
| (b) in subsections (3) and (4), the words “or (8)”, wherever they occur. | ||
| 1995 c. 4. | The Finance Act 1995. | Section 77. |
These repeals have effect in relation to payments falling due on or after 6th April 1998.
(14) Group Relief
| Chapter | Short title | Extent of repeal |
|---|---|---|
| 1988 c. 1. | The Income and Corporation Taxes Act 1988. | Section 403(9). |
| Sections 408 and 409. | ||
| Section 411(2) to (9). | ||
| 1990 c. 29. | The Finance Act 1990. | Section 96(11). |
These repeals have effect, subject to the provisions of paragraph 9 of Schedule 7 to this Act, for accounting periods ending on or after 2nd July 1997.